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Stock Market & Financial Investment News

News Breaks
August 15, 2014
16:02 EDTESSEssex Property Trust acquires two apartment communities for $208.8M
Essex Property Trust announced the company has purchased two apartment communities for purchase prices totaling $208.8M. Apex Apartments, a 366 unit community located in Milpitas, CA, was purchased for $150M. The property was completed and fully stabilized in 2014. Amenities include a saltwater pool and spa, a fitness center, an outdoor entertainment area with multiple fire pits and BBQs, a movie theater, a Wi-Fi lounge and billiards room, and a demonstration kitchen. Apex is located about one mile from high paying jobs in North San Jose and is near a VTA Rail Station and the Milpitas BART station that is under construction. The property is unencumbered. Avalon Bellevue Park Apartments, a 220 unit community located in Bellevue, WA, was acquired for $58.8M. The property was constructed in 1994 and is located in downtown Bellevue, near employers, shopping, dining, and entertainment options. The company has assumed an existing $21.5M loan with an interest rate of 5.5%. The loan matures in June 2019.
News For ESS From The Last 14 Days
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September 29, 2014
09:00 EDTESSEssex Property Trust reports cyber-incident on computer networks
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September 16, 2014
10:01 EDTESSBofA/Merrill REITs analysts hold an analyst/industry conference call
CMBS Strategist Todd, U.S. REIT Analyst Spector, REIT Fixed Income Analyst Frost, along with CBRE Capital Markets Executive Managing Director Levy discuss their best ideas, current outlook and viewpoints on all things in the commercial real estate sector on an Analyst/Industry conference call to be held on September 19 at 11 am.

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